According to the United Breast Cancer Foundation (UBCF) 2020 tax filing (IRS Form 990, Schedule M), UBCF reports receiving donated in-kind contributions on which it placed a value of $9,635,440. Of this value, $8,562,156 consisted of "in-kind donations of various household products and children items," according to Note 5 (Non-cash Contributions) of the UBCF 2020 audit. Also according to audit Note 5, UBCF "distributed in-kind contributions of the merchandise totaling $12,941,028" during 2020. [Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.] |
According to the United Breast Cancer Foundation audit of December 31, 2020 (Note 7, Concentration of Risk): "...For the year ended December 31, 2020, 82% of the Organization's total revenue received was from two donors..." [...] "The Organization is currently involved in pending litigation involving a lawsuit in the State of Florida with an advertising company. As of the date of this report [November 2, 2021], it is too early in the litigation process to estimate any potential or probable loss."
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According to the United Breast Cancer Foundation audit of December 31, 2020 (Note 9, Financial Impact Related to the COVID-19 Pandemic): "Due to the benefits of the Coronavirus Aid, Relief, and Economic Security Act (hereinafter, 'CARES Act'), on May 7, 2020, the Organization received a forgivable note for a total of $107,836. The loan was granted as part of the Paycheck Protection Program ('PPP') to help businesses impacted by the COVID-19 pandemic. Under the terms of the note, a portion or all of the note may be forgiven as a grant with the ultimate amount payable depending on the uses of the loan and the criteria set forth in the CARES Act, subsequent guidance, and regulations. The note was forgiven in full subsequent to year-end. "Subsequent to year-end, the Organization received a note for $139,330 as part of the second round of the CARES Act PPP. The note may be forgiven entirely based on levels of qualified expenditures to be made by the Organization over a period subsequent to funding. Any amount not forgiven will be required to be repaid and amortized over a two-year term at an interest rate of 1.00%. Management expects that most, if not all, of this note will be forgiven. "The Organization also received an Economic Injury Disaster Loan ('EIDL') of $149,900 on September 10, 2020. After deferral of payments for the first 24 months, monthly payments will be $612, including interest at 2.75%, until its maturity in thirty years." [...] "As a result of the spread of the COVID-19 coronavirus, economic uncertainties have arisen, which may negatively impact operating results. The full long-term impact of the pandemic on the Organization's operating results and financial position is uncertain and the financial impact of this matter, if any, cannot be completely estimated at this time." |
According to the United Breast Cancer Foundation (UBCF) 2020 tax filing, UBSC reports re: the existence of a family relationship among officers, directors, trustees, or key employees, a "father/daughter" relationship between Nick Mastroianni and Audrey Stephanie Mastroianni, and a "brother/sister" relationship among Nick Mastroianni II and Audrey Stephanie Mastroianni (IRS Form 990, Schedule O).
All three Mastroiannis are reported as being both a board member and an officer of UBCF. Audrey Stephanie Mastroianni is reported as President and Executive Director; Nick Mastroianni is reported as Treasurer; and Nick Mastroianni II is reported as Secretary (IRS Form 990, Part VII). UBCF reports having eight voting members on its governing body at the end of 2020, with five voting members reported as independent (IRS Form 990, Part VI, Section A, lines 1a & 1b). Also according to the UBCF 2020 tax filing: "Audrey Stephanie Mastroianni, as sole member, may appoint members to the governing body" (IRS Form 990, Schedule O re: Form 990, Part VI, Section A, line 7a). |